Description

BSE introduces real-time notification mechanism for intraday contract activation in equity derivatives through News Message framework, now available for both LF and HF sessions.

Summary

BSE has implemented a real-time notification mechanism for communicating intraday contract activation in equity derivatives. The Exchange will send activation notifications through the News Message (Template ID 10031) as defined in the Exchange Trading Interface (ETI) messaging format. The activation message will appear in the Var Text field (30355). Importantly, the News Broadcast Message framework, previously available only to LF (Low Frequency) sessions, will now also be available to HF (High Frequency) sessions on subscription.

Key Points

  • Intraday contract activation communicated via News Message (Template ID 10031) in ETI messaging format
  • Activation message delivered in Var Text field (30355)
  • Real-time delivery mechanism ensures immediate notification
  • Re-transmission support ensures message delivery even during temporary disconnections
  • News Broadcast Message now available to both LF and HF sessions on subscription
  • Members must refer to ETI Messaging Format Document Version 1.6.13 for implementation details

Regulatory Changes

Expansion of News Broadcast Message availability from LF sessions only to both LF and HF sessions on subscription basis. This represents an enhancement to the existing messaging infrastructure for equity derivatives trading.

Compliance Requirements

  • Member applications must be configured to receive News Message (Template ID 10031)
  • Systems should be set up to parse the Var Text field (30355) for activation messages
  • Members must refer to the News Broadcast Message framework detailed in ETI Messaging Format Document Version 1.6.13
  • Member systems should subscribe to News Broadcast Messages for their respective session types (LF/HF)
  • Systems must be appropriately configured to handle re-transmission mechanism

Important Dates

No specific implementation dates mentioned. Circular appears to document existing/current functionality.

Impact Assessment

Technical Impact: Medium - Requires member systems to be configured for News Message framework and ETI messaging format Version 1.6.13. Members need to ensure their applications can receive and process these notifications.

Operational Impact: Positive - Real-time notification and re-transmission support eliminates information loss due to temporary disconnections, improving operational reliability for derivatives trading members.

Trading Impact: Medium - Affects equity derivatives trading infrastructure. Members trading in reserved contracts (strikes) need proper system configuration to receive activation notifications in real-time.

Member Preparedness: Members should verify their systems are subscribed to News Broadcast Messages and properly configured to handle Template ID 10031 messages, particularly HF session members who now have access to this framework.

Impact Justification

Technical infrastructure update affecting equity derivatives trading members. Requires system configuration changes to receive real-time contract activation messages. Extends News Broadcast to HF sessions, improving information delivery reliability.